NEW YORK/STOCKHOLM (Reuters) - Whirlpool (WHR).(N) and Electrolux (ELUXb.ST), said shoppers will bombard the most money to buy washers and dryers this year as companies pay more for steel, copper and oil.
The manufacturers appliance, which declared a quarterly profit on Wednesday and expectations Beats, price increases were only natural in view of the rapid increase of fresh material this year.
Industry leader, Whirlpool, Maytag and KitchenAid appliances manufacturer, said that he sees now raw materials and the inflation of costs related to the oil in 2011 from $ 400 million to 450 million, approximately 150 million of its prospects prior.
Small rival Electrolux Sweden, industry no. 2 with brands such as AEG and Frigidaire, forecasts matter first increase in the cost of 2 billion crowns ($328,6 million) this year.
As Whirlpool, Electrolux announced price rises and expects them to stick. Prices in North America were on average 4%, and the Group thus wants increases in Europe and Latin America.
Whirlpool has raised prices worldwide in April, with increases varying from a market.
"Our priority is to expand our operating margins, particularly in an environment where the raw materials have been climbing as they have." We do are not hunt part, ", said CEO Jeff Fettig-Whirlpool."
Some analysts worry that price increases will not be accepted by of bargain-hungry shoppers and ultimately interfere with the application.
"I think that some will paste lines appliance premium, perhaps not so much on small home products," said analyst Brian Sozzi strategies of Wall Street.
Some of the gains from sales of Whirlpool in the first quarter reflected probably buy stung by the announcement of the company that the price would increase in April, David MacGregor of Longbow research and Kenneth Zener Keybanc capital markets said.
IN EMERGING MARKETS, WE TRUST
Whirlpool and Electrolux see a pick-up modest growth in sales in North American markets and European core this year. Whirlpool has also published a forecast of stronger than expected exercise.
A sluggish economy and the weak housing market had begun the sale in North America, but companies benefit now signs of a recovery in the United States.
Earnings reports came the day after data showed U.S. consumer then had a little in April as they worried less about inflation and the labour market.
"Trust, it is finally key," said Sozzi. "I think that the owners said, ' OK, we feel a little better." Let's reconstruct some devices that we have retained. ""
U.S. shoppers also open their wallets for furniture and other goods pricey, say analysts.
Nevertheless, the greatest motivation sales will continue to be the rapid growth of Latin America and Asia markets, fueled by a burgeoning middle class purchasing power.
Whirlpool forecasts U.S. industry throughout the year unit shipments would rise by 2 to 3%, Electrolux see request an increase of 3 to 5 per cent in North America.
In Europe, the Middle East and Africa, Whirlpool expects growth of 2 to 4%, compared to the sight of the Electrolux by 2%.
The Outlook for the other regions was more dynamic, with whirlpool expect industry shipments rise 5% to 10% in Latin America and 6 to 8% in Asia.
($ 1 = 6.087 Swedish Crown)
(Reported by Patrick Lannin and Dhanya Skariachan.) (Editing by David Cowell and John Wallace)
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